I have a friend who owns several SFH in Japan, but you don't "really" own them unless you own the land - which is another can of worms.I have several colleagues who are married to Thai women and they seem to have good luck buying personal residences.  

The decision to rent out the first home was by circumstance.  

Lenders may also prove that the increased value is the result of rehabilitation of the property.Re-sales occurring between 90 days and one year will be subject to a requirement that the lender obtain additional documentation to support the value to address circumstances or locations where HUD identifies property flipping as a problem.

But all depends on your circumstances.

Landlords are very motivated people given the right circumstances.  

One other strategy, might be hard to get, but a letter of support by your city fathers, representative, zoning board, official types for the proposed project, the Kroger guy can help with that, Freddie won't be bucking this transaction if you need to give title for them to proceed in zoning, IMO, just a little political flavor to the reality of your circumstances, that shows you will likely be moving anyway.

I'm thinking about going after short sales for flip or buy/hold properties--but the often-lengthy process gives me pause.  What happens if I make an offer, but the wait is so long that during that time I've found anot...

Financially, I probably leave a little on the table, but it's far far less time, and that is what makes it worth it for me as a part-time investor.The lowest below market that I have ever gone is 20% - but that was a special circumstance and not something I would advocate.

@Gregory Jimison depending on circumstances it could be the same day.

I'm also looking for possible rental investments in or near my hometown in Tennessee (possible retirement location).I'm really looking forward to networking, and LEARNING from other landlords and investors in the area, especially other women investors/landlords.